Retire Young and Wealthyhttp://www.retireyoungandwealthy.com
Tips, advice and experience for making money from anywhere in the worldTue, 28 Jul 2015 10:37:00 +0000en-UShourly1http://wordpress.org/?v=4.2.3RetireYoungAndWealthyhttps://feedburner.google.comThis is an XML content feed. It is intended to be viewed in a newsreader or syndicated to another site, subject to copyright and fair use.Smart Loans for Studentshttp://www.retireyoungandwealthy.com/smart-loans-for-students/
http://www.retireyoungandwealthy.com/smart-loans-for-students/#commentsTue, 28 Jul 2015 10:37:00 +0000http://www.retireyoungandwealthy.com/?p=1678Spoiler: There is no such thing as a smart loan for students, or anyone else, for that matter. There is only smart lending and smart borrowing. No loan is designed for the borrower’s best interest. They are always designed to benefit the lender. That is as true for a bank as it is for a loan shark. They are crafting the best terms for them that they think you will accept.

The real question is, what loans should you accept. In one sense, there are no bad loans, just unfavorable terms for you at a given time in your life. It is up to you to get smart about when it is best to take out a loan, and for what terms. As a student, this can be difficult, as your choices are somewhat limited. That said, you still have choices.

Private Student Loans

Everyone knows about the federally backed student loans that you can get by filling out 5” of student loan paperwork. These loans are often associated with big names like Fanny Mae and Wells Fargo. But those aren’t the only sources of student loans that are available.

If you qualify, and are okay with the offered terms, you can get a private student loan. It is important to note that there is a difference between student loans and grants. Grants are free money that you do not have to repay. You just have to qualify for them. A loan, private or public, has to be repaid. The thing about student loans is they can’t be discharged in a bankruptcy. Until you pay it, that loan stays on your record forever.

According to Consumerist, “…student loan debt averages $29,000 for borrowers leaving school with a Bachelor’s degree.” We know that acquiring that degree does not guarantee a job. For all too many graduates, bankruptcy is their first, harsh, life-lesson. But some senators are pushing to make private student loans dischargeable in the event of bankruptcy. It might be an important consideration when choosing a student loan.

Situational Loans

It is easy to get blindsided by unexpected costs when you are a student. There is a lot that is simply not covered by your student loan, or your parent’s credit card. What are you going to do when your laptop gets pinched, or broken beyond repair? You’ve still got classes to attend, and papers to write. You don’t have time to save up for a new one. You need a good laptop right now.

A bank is probably not going to lend you $1,250 for a new Macbook no matter how much you need it. Your friends don’t have it. At least, that’s what they tell you. A solution they might point you to is a socially networked source like the MaxLend Loans LinkedIn page. They are one of several online sources that make it easy to obtain a situational loan. Although they have been around since 1975, you will still need to carefully read all terms and conditions to make sure it is right for you. The overall message from the MaxLend Loans blog is:

Just because you’re short on funds doesn’t mean you’re short on options. MaxLend can deliver up to $1,250 to your bank account in minutes!

The key to situational loans is be prepared to pay them back quickly.

Credit Cards

Finally, there are credit cards. Just remember, the people who tell you to pay them off and cut them up have used them to great effect at some point in their lives. So can you. Remember, there are no bad loans. There are, however, irresponsible borrowers. Borrowing more in a pay period than you can afford to pay back is irresponsible no matter the loan. The only problem with credit cards is that they make it easy to spend money without feeling like you are spending money. Just remember: abusing a credit card in school has dire consequences down the road.

At the end of the day, it is not about smart loans; it’s about smart students.

]]>http://www.retireyoungandwealthy.com/smart-loans-for-students/feed/0Volvo – one of the safest cars to drivehttp://www.retireyoungandwealthy.com/volvo-one-of-the-safest-cars-to-drive/
http://www.retireyoungandwealthy.com/volvo-one-of-the-safest-cars-to-drive/#commentsFri, 28 Nov 2014 02:13:22 +0000http://www.retireyoungandwealthy.com/?p=1672Volvo have long had a history of safety and reliability for their car range and safety is one of company’s core values.

In 1959, an engineer working for Volvo, Nils Bohlin invented the three point seat belt system, which is still in use today. It was made standard on the Volvo Amazon and PV540 and Volvo was one of the first manufacturers to make seat belts standard. At the time people were scared about the best way to be restrained in a motor vehicle. The feature of the three point safety belt is that it provides restraint for the upper and middle body. The other design feature is that it can easily fastened using one hand, and in one swift motion. Until then seat belts were only placed across people’s laps.

It did however take time for governments and manufacturers around the world to understand the safety benefits of using a seat belt, but it is standard now in all vehicles and most countries have laws which make seat belt use compulsory.

Following on with their safety record, Volvo established a safety research center in Gothenberg, Sweden around 15 years ago. It is one of the best in the world, allowing Volvo to create a range of accident scenarios and recording their results.

The center utilizes a series of tunnels, which sit on an air cushion and can be moved around at a variety of angles, simulate a variety of accident scenarios. Cars can be driven both ways along the tunnel, as well as exiting outside of the tunnel, enabling the engineers to create real world environments outside.

The crash area has a glass floor with cameras located, below and above the area and to the sides and inside of the cars. The crashes are filmed with special high speed cameras as a crash is over in a tenth of a second.

The research has resulted in air bag deployment and optimizing the coverage area for passengers. It would not be possible to with conducting the the crash tests. The research ensures that all of the Volvo car range are fitted with the latest safety equipment.

]]>http://www.retireyoungandwealthy.com/volvo-one-of-the-safest-cars-to-drive/feed/0Jaguar F-type reviewhttp://www.retireyoungandwealthy.com/jaguar-f-type-review/
http://www.retireyoungandwealthy.com/jaguar-f-type-review/#commentsFri, 28 Nov 2014 00:45:39 +0000http://www.retireyoungandwealthy.com/?p=1668When I was growing up, our neighbor owned an older model Jaguar XJ. He used to let to us kids play in the car. It was different than usual Fords and Holden cars that most of our dads owned. Since then I have always admired the British car maker.

One car that has recently caught my attention, is the new F-Type Jaguar. It is hard not to think “the future has arrived” when you see this car for the first time. The body is sleek aluminum and everything from the door handles to the engine is electronically controlled.

Push a button on the door and the door handle reveals itself and even has LED illumination for ease of entry at night. If you are looking for a car which makes a high impact to onlookers as you driver around, the F type could be the car for you. The car features an active sports exhaust which will make a lot of engine noise, but still stays safely under any government noise restriction laws.

The steering wheel is comfortable to hold and you can control things such as cruise control and the dashboard display, without having to remove your hands from the wheel. The car has an eight speed quick shift automatic transmission. There is even a stormy or wet weather setting for the car – great for colder climates.

The sound system is impressive, with no less than 12 speakers. The car also features a USB port for iPhone and blue tooth so you can talk hands free on your mobile phone.

The F type has both coupe and convertible models available, with a V6 or V8 engine. The coupe has a quite a roomy trunk and one feature I love is an electronic control, which automatically closes the lid of the trunk if you don’t close it properly.

Certainly if I had the money and didn’t need to drive kids around, this 2-seater high performance sports car, would be at the top of my list.

]]>http://www.retireyoungandwealthy.com/jaguar-f-type-review/feed/0The Importance of Retention Marketing for Your Businesshttp://www.retireyoungandwealthy.com/the-importance-of-retention-marketing-for-your-business/
http://www.retireyoungandwealthy.com/the-importance-of-retention-marketing-for-your-business/#commentsThu, 28 Aug 2014 11:34:00 +0000http://www.retireyoungandwealthy.com/?p=1664From telecommunications firms to energy suppliers, there remains a tangible sense that new customers are often treated more favourably than existing ones. This is why individual consumers are always encouraged to switch suppliers when their pre-existing contracts have ended, as this enables them to access the best possible deals. As companies continue to invest in unique and innovative methods of enticing new customers, however, it is easy for them to lose sight of long-term business growth and the importance of retention marketing.

The Importance of Retention Marketing: Maintaining a Satisfied Customer Base

In many ways, it is easy to understand why businesses are so keen to aggressively pursue new business. After all, this is perceived as being pivotal to the chances of long-term expansion, especially in competitive markets where multiple companies are looking to claim a viable share of the market. It can occasionally be a false economy, however, as a failure to respect existing customers or treat them favourably may force them to seek an alternative service provider. Over time, this will create a high level of turnover amongst consumers and trigger a repetitive cycle of boom and bust.

This is to be avoided at all costs, as it represents the type of limited and short-sighted outlook that will ultimately undermine any opportunity for sustained growth. This is why retention marketing is so important to understated discipline in the private sector, as it enables firms to invest time and money into retaining existing customers and developing genuine brand loyalty. By focusing on the needs of this demographic and offering them appealing financial incentives, it is possible to create a foundation for long-term growth. Once this has been achieved, you can tenaciously pursue new leads and target additional demographics to develop a larger and more profitable customer base.

How to Get Started in Retention Marketing

While the purpose and reasoning behind retention marketing is easy to understand, creating a viable and actionable strategy is far more challenging. As a starting point, it is important to understand the needs of your existing clients and the issues that they face as consumers, before developing innovative solutions that can serve a genuine purpose.

The next step is to execute the delivery of these solutions, primarily by using specialist retention marketing and management software that has been designed by a market leader. Take Phorest, for example, who have forged their reputation by creating unique and innovative retention marketing software for the salon and hair care industry. The benefit of partnering with a specialist service provider is obvious, as they use insightful industry knowledge to create a tailored product for their clients.

]]>http://www.retireyoungandwealthy.com/the-importance-of-retention-marketing-for-your-business/feed/0What is Indirect Automobile Financing & How Will it Help Youhttp://www.retireyoungandwealthy.com/what-is-indirect-automobile-financing-how-will-it-help-you/
http://www.retireyoungandwealthy.com/what-is-indirect-automobile-financing-how-will-it-help-you/#commentsSat, 28 Jun 2014 00:15:55 +0000http://www.retireyoungandwealthy.com/?p=1661Are you looking to purchase a new car? If so, multiple financing options are available to you. Some car buyers prefer to secure their own financing from a bank or credit union. And to be perfectly honest, many financial experts recommend this type of financing.

Securing your own financing can typically result in a lower interest rate; and since there’s a relationship between rates and monthly payments, getting a loan directly from a bank can result in a lower monthly payment.

This approach — known as direct financing — can also speed the car buying process. With your financing already in place, you can walk into any dealership, pick a car, negotiate the price, and the bank issuing your loan will send a check to the dealership — short, simple and to the point.

But while this method is convenient and simple, it isn’t always the best approach. Unfortunately, some banks only offer car financing to certain people — namely people with good credit. The definition of good credit varies by bank and credit union; but if you have a credit score of 680 or higher, you’re pretty much guaranteed an auto loan with no money down.

However, let’s say you prefer to secure financing through the dealership. This is another option, and some people prefer this approach because they can get a car and loan in one place. There are certainly benefits to direct financing, but you’re not guaranteed the lowest interest rate. In fact, if you secure financing through the dealership, the dealer might inflate your interest rate to increase their profit. This isn’t the best news if you have good credit, thus able to qualify for the best rates. But if you have a shaky credit history and need auto financing, indirect financing can be a godsend.

To put it plainly, indirect financing is a loan you receive at the dealership through a financial institution. These institutions have a general outlook on the process regarding the dealership and their position; being that yes, these dealers may write out the loans but it’s ultimately up to the “bank” or a lender such as Consumer Portfolio Services. Simply put, they have the final say.

Yes, dealership financing adds a middleman into the mix. However, if you don’t have the best credit history, the dealership can connect you with lenders that are willing to issue a loan. Of course, improving your credit and then applying for financing is one way to ensure an excellent rate. But if you need a new car today, there isn’t time to boost your score. You need an immediate solution; and unfortunately, some banks aren’t going to give you the time of day. And if they do approve your auto loan, they may require a cosigner or a down payment.

This isn’t always the case with indirect financing. Once you complete your loan application at the dealership, the dealer’s finance team will search its database to find the best loan program and lender. Some lenders work specifically with people who have no credit and bad credit. Therefore, it shouldn’t be difficult to secure financing. And although you may get hit with a high interest rate, think of this as a temporary inconvenience.

As you make your car payment each month (on time) and add positive information to your credit report, your score will increase — and in the future, you’ll qualify for much better rates.

]]>http://www.retireyoungandwealthy.com/what-is-indirect-automobile-financing-how-will-it-help-you/feed/0Student Housing: A Bankable Investmenthttp://www.retireyoungandwealthy.com/student-housing-a-bankable-investment/
http://www.retireyoungandwealthy.com/student-housing-a-bankable-investment/#commentsTue, 24 Jun 2014 01:47:44 +0000http://www.retireyoungandwealthy.com/?p=1659If you have the up-front capital to invest in a property, there is some serious money to be made in student housing. For years, small-time investors have been looking at buy-to-let investments as simply a way to make a little extra money here and there, with no real long-term financial gains. However, those who have managed to tap into the student accommodation market are beginning to see some big returns in a relatively short space of time. Do likewise and you’ll have an ongoing cash cow that’ll pay dividends.

What Makes It Such a Sound Investment?

For someone new to the world of real estate, it might seem questionable that students – reputed to be amongst the poorer members of society – might provide a great source of income for anyone. This is far from the truth though. In the United Kingdom in particular, students receive fairly substantial loans, allowing them to fund both their studies and their accommodation without needing to enter active employment.

Accommodation fairs (events put on by universities in order to find housing for the duration of students studies) are centred on finding housing for students, specifically within designated ‘student houses’. As naturally, most students would rather live with other students, but are too young to be able to take out a lease on a full property. What this means is that landlords of student homes have an effective monopoly as far as housing the local student population in concerned, which enables them to charge more. For instance, whereas you might only charge £750 per month for a 3 bedroom home, with a student house you could quite reasonably charge in excess of £1100 (for example, £380 per month, to be paid individually by each student in your house).

Maximizing the Property’s Potential

Generally speaking students aren’t overly picky regarding their living quarters, so you probably won’t need to renovate the house or make any large-scale changes in order to guarantee a good return. A fresh lick of paint every year though and a decent furniture package from David Phillips (or a similar company), will allow you to increase the rent even more.

Great Financial Returns

Buy-to-let has to some degree always been considered a bit of a small-time investment. Student housing expels this myth though, showing that anyone – provided they have money up front – can experience great financial returns on the student property market.

]]>http://www.retireyoungandwealthy.com/student-housing-a-bankable-investment/feed/0Fantastic Business Ideas For Young Entrepreneurshttp://www.retireyoungandwealthy.com/fantastic-business-ideas-for-young-entrepreneurs/
http://www.retireyoungandwealthy.com/fantastic-business-ideas-for-young-entrepreneurs/#commentsTue, 24 Jun 2014 01:36:55 +0000http://www.retireyoungandwealthy.com/?p=1657The business and investment opportunities available to young people today by far outdo what was possible for generations in the past. Particularly since the growth of the internet and digital technologies. Making good money at an early age has become a definite reality, provided of course, you know where to invest your money in the first place. Here are two fantastic money-making ideas for young entrepreneurs.

Pop-Up Shops

Without the massive overheads associated with owning and running a conventional shop, pop-up shops are a really popular choice for young business-minded individuals looking to launch a career in retail. Whether you’re selling your own artistic creations (many graduate students use pop-up shops to promote their work), or whether you use the shop to promote a new product or service, pop-up shops provide great opportunities for young people who don’t necessarily have enough start-up funds to finance a permanent structure, like a conventional shop.

Naturally, although there’s perhaps less financial risk with this type of investment, you still need to think very carefully about how you approach it. Where will you locate the shop? How will you draw customers in? How will your brand continue to have a life and following after customers have left the storefront? Will you only accept cash, or will you rent a mobile card payment machine from Card Cutters? Knowing the answers to such questions is essential if you are to undertake a business opportunity of this kind.

Online Storefronts

Making money from home has never been easier than it is today. With sites such as eBay, just about anyone can make good money selling a vast range of products online. The key factors to success? In-depth knowledge of your market, and meticulous, detailed listings. As with any type of business, identifying demand comes first and foremost. Once you’ve got a handle on this, the big factor in a successful eBay business is the way in which you advertise or ‘list’ your items. Honesty and attention to detail are paramount. Get these elements right, and you’ll stand a good chance of making a decent living over time.

Larger-Scale Future Investments

These are only two of the countless business opportunities available to aspiring entrepreneurs today. And whilst they won’t make you a millionaire overnight, they should put you in good financial standing to consider larger-scale investments in the future.

]]>http://www.retireyoungandwealthy.com/fantastic-business-ideas-for-young-entrepreneurs/feed/0How to Get the Best Out of Your Employeeshttp://www.retireyoungandwealthy.com/how-to-get-the-best-out-of-your-employees/
http://www.retireyoungandwealthy.com/how-to-get-the-best-out-of-your-employees/#commentsTue, 24 Jun 2014 01:29:55 +0000http://www.retireyoungandwealthy.com/?p=1654Business owners and managers will be aware that company profits often rely heavily on the productivity of employees. In order to make your business as successful as possible, it’s important that members of staff are giving their best performance. If you’re interested in encouraging good working practices among members of staff, there are plenty of simple ways to ensure that employees are happier and more productive.

Create a Pleasant Working Environment

If the workplace is an environment where employees feel safe, comfortable and supported, their productivity is bound to increase. The office should be a temperate place in both hot and cold weather, so it’s definitely worth investing in the services of a provider like Pure Air Conditioning. Employees who spend the majority of their time at desks should be given the option of a seat with increased back support. An accessible kitchen where staff can get tea, coffee, water and soft drinks throughout the day is necessary, and you could also consider providing healthy snacks for employees.

Lead by Example

If you want your employees to approach tasks with energy and positivity, it’s essential that you lead by example. The most inspiring managers and bosses are those who practice themselves what they urge their employees to do and don’t consider themselves too good or too busy to set a positive example. If you want to reduce stress levels in the work place, check your own behaviour. Do you spend a lot of your time looking worried or unhappy, striding around the office, or rushing to appointments? If so, this is how your staff will believe they should be behaving.

Value Your Employees

Showing your staff that they are valued parts of the organisation will raise their productivity and efficiency. You can do this by investing in training courses or giving certain employees more responsibility in their areas of interest. Having regular sit-down meetings with individual members of staff where you discuss their goals, strengths and progress will really make them feel like they matter and that their personal development is being cared for by the business.

There is the added advantage that staff who feel valued will be loyal to the company and provide you with many years of excellent service. Small things like remembering the names of staff members, keeping track of events like engagements, birthdays, marriages and births, greeting employees by name and praising them individually for doing a good job will also increase employee satisfaction.

]]>http://www.retireyoungandwealthy.com/how-to-get-the-best-out-of-your-employees/feed/0How to Put Inherited Money to the Best Usehttp://www.retireyoungandwealthy.com/how-to-put-inherited-money-to-the-best-use/
http://www.retireyoungandwealthy.com/how-to-put-inherited-money-to-the-best-use/#commentsTue, 24 Jun 2014 01:18:24 +0000http://www.retireyoungandwealthy.com/?p=1651Even if it has been long-expected, the death of a loved one is always a sad occasion. If you’ve recently lost someone, it’s important to give yourself time to grieve. There’s no rush to decide what to do with any money you may have inherited, so it’s best to consider your options carefully before you make any financial decisions, particularly if the sum of money is a large one. If you feel that you have been unfairly cut out of a loved one’s will, it’s important to contact a solicitor who specialises in probate cases, as quickly as possible. This is because it will be most difficult to return your rightful inheritance if the assets have already been divided and sold off.

Setting Up Your Own Business

Starting your own commercial enterprise is one of the most exciting and ambitious things you can do with inherited money. However, it’s essential that you have a detailed business plan before you start to use any of the investment capital. Do your research on the market you’re looking to break into and the main competition that you will encounter. This will give you a clear idea of an appropriate business model and allow you to start attracting investors, partners, suppliers and clients.

Investing the Money

Investment can be a tricky business, particularly if you have little financial knowledge or have never attempted to invest before. You may need to employ the services of a professional who can manage your investment portfolio for you, or at least advise you on the best investment options. It’s not recommended that you make investment decisions alone if you are inexperienced and you should only ever invest money that you can afford to lose.
Investment funds are usually the best choice for beginners, and individual shares are only appropriate with those with more experience. You should be honest about your investment goals and the risks you are willing to take.

Buying Property

Property is a great way to use investment capital. Houses and flats rarely decrease in value (unless they are left in a state of extreme disrepair) and you can let out the property to tenants and use the profits as a supplementary source of income. Ask your local estate agent which areas of your city or county are currently most valuable and choose a location where you’re more likely to get big returns on this kind of investment.

]]>http://www.retireyoungandwealthy.com/how-to-put-inherited-money-to-the-best-use/feed/0Becoming a Landlord: How to be Profitable and Well-Regardedhttp://www.retireyoungandwealthy.com/becoming-a-landlord-how-to-be-profitable-and-well-regarded/
http://www.retireyoungandwealthy.com/becoming-a-landlord-how-to-be-profitable-and-well-regarded/#commentsTue, 24 Jun 2014 01:13:47 +0000http://www.retireyoungandwealthy.com/?p=1649If you’re fortunate enough to be in a position where you are able to rent out a property to tenants, don’t hesitate to establish yourself as a landlord. Renting out a house or a flat can be an extremely profitable enterprise and some landlords are even able to make this their primary source of income. Others can use the profits generated by letting a property to fund exciting projects like setting up their own businesses. Whatever you choose to do with income, it’s essential that you are aware of the characteristics that a good landlord possesses. Well-regarded landlords who have a good relationship with tenants are more likely to receive good reviews and increased numbers of applicants.

Property Maintenance

In order to attract the kind of tenants who will care for your property and cause you as few problems as possible, it’s important that they are given a living space that they can be proud of. You can’t expect tenants to respect the house or flat if it’s in a poorly maintained state to begin with. The exterior of the property should be freshly painted, with the front garden tidy and all bushes and shrubs trimmed back. Inside, the carpets and walls should be clean, the furniture in good condition and all appliances in working order. Dirt and damp will certainly put off prospective tenants.

Communication is Key

Good landlords are known for keeping the lines of communication open and answering the phone to tenants as often as possible. Remember that most tenants will not call you unless there is an urgent problem. Encourage your tenants to report breakages and accidents immediately, so that you can rectify things quickly. Issues with water, heating or damp should be addressed within two days.

Ethical Profitability

Unfortunately, some landlords have a bad reputation for being greedy and uncaring about the needs of their tenants. Of course, it’s natural to want this enterprise to be as profitable as possible, but this shouldn’t be achieved at the expense of those residing in your property. You can save money on outgoings like insurance by finding specialist dealers from a variety of providers, including Click4Quote Ltd. It’s always better to look for places to make savings than to suddenly surprise your tenant with increased rent, as they may not be in a financial position to pay it. If you want to increase to cost of rent, do it between tenants and justify it with serious improvements to the property.